The Daily Drawdown Forex indicator For MT5 calculates and shows the daily drawdown for all buy & sell transactions executed in one day.
This is a helpful indicator to keep track of your daily performance.
The daily drawdown indicator will appear in the lower right corner of the main chart window as “Daily DD %”.
The following inputs can be edited: daily drawdown active (true/false).
Make yourself familiar with this indicator and test it first on a demo account. It supports all time frames and Forex pairs.
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The following chart shows how the Daily Drawdown Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Daily Drawdown Forex Indicator?
The indicator does not issue any trading signals. Use it together with an existing trading system or combine with technical indicators.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Daily Drawdown.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration